87,769 Shares in SLB Limited $SLB Bought by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new position in shares of SLB Limited (NYSE:SLB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 87,769 shares of the oil and gas company’s stock, valued at approximately $4,057,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of SLB in the second quarter worth approximately $1,339,567,000. USA Financial Formulas bought a new position in SLB during the 1st quarter worth approximately $511,000. Merit Financial Group LLC raised its holdings in SLB by 6.4% during the 2nd quarter. Merit Financial Group LLC now owns 57,583 shares of the oil and gas company’s stock worth $2,677,000 after purchasing an additional 3,473 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of SLB by 8.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 34,315 shares of the oil and gas company’s stock worth $1,595,000 after purchasing an additional 2,728 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of SLB by 10.2% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 50,099 shares of the oil and gas company’s stock worth $2,329,000 after purchasing an additional 4,636 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.0%

NYSE:SLB opened at $53.77 on Monday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $79.80 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.55 and a beta of 0.73. The firm has a fifty day simple moving average of $49.52 and a two-hundred day simple moving average of $51.09.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Analysts expect that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLB shares. Raymond James Financial decreased their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. TD Cowen upped their price target on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Morgan Stanley increased their price target on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. UBS Group lowered their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Citigroup dropped their price objective on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $61.35.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.